How to View & Download State Bank of India Home Loan Interest Certificate Online

A home loan statement is a document delivered to you by the bank containing all the information about your house loan. It is also known as a repayment schedule or an amortisation table.

Customers who have SBI (State Bank of India) home loans can browse the SBI website to get their home loan statement and their interest certificate at any time. You also have the option of picking it up in person by travelling to the SBI branch that is situated in the area that is most accessible to you. 

You will get from the bank a document that may be given one of many names, including an Amortisation Table, a Repayment Schedule, or a Home Loan Statement for an SBI home loan interest certificate. The particulars of your mortgage loan will be presented in full detail in this document. In most instances, it will include the particulars that are listed below:

• The whole sum of the loan that has been approved and repaid as of the current date for interest certificate SBI.
• The relevant interest rate is the entire amount of the EMI.
• The total amount of instalments that have not been paid and those that have been paid, respectively.

The full amount of interest paid during a certain fiscal year on an SBI Home Loan is detailed on a document known as the SBI Interest Certificate.  This document is available for review. To be eligible for a deduction on your income tax return for the interest paid on a house loan in accordance with the requirements of sections 24B, 80EE, and 80EEA of the Income Tax Act, whichever provisions are relevant, you are needed to have this certificate.

What is the SBI home loan statement?

Owning a home is a dream for many, and the State Bank of India (SBI) provides convenient and flexible home loan options to help make this dream a reality. When you avail of an SBI home loan, it’s essential to understand the concept of a home loan statement. Let’s delve into what an SBI home loan statement entails:

Meaning and Significance:

• The SBI home loan statement is a document that provides a comprehensive overview of your home loan account.
• It contains essential details such as the loan amount, interest rate, repayment schedule, outstanding balance, and the amount paid towards principal and interest.
• The statement serves as a financial record and helps you track the progress of your loan repayment.

Obtaining the SBI Home Loan Statement:

SBI provides multiple methods to access your home loan statement conveniently.

• SBI YONO: If you have registered for SBI YONO, you can log in to the YONO app or website to view and download your home loan statement.
• SBI Online Banking: Through the SBI online banking portal, you can access your home loan statement by logging in to your account.
• SMS: You can also request your home loan statement by sending an SMS to the designated SBI number with the required keyword.

Importance of the SBI Home Loan Statement:

• Monitoring Loan Progress: The statement allows you to monitor your home loan’s progress, including the outstanding balance and the portion of each payment that goes towards principal and interest.
• Financial Planning: With the statement, you can plan your finances effectively by understanding the remaining tenure, upcoming EMIs, and the impact of prepayments, if any.
• Tax Benefits: The home loan statement provides crucial information for claiming tax benefits on the principal and interest components of your loan.

NoBroker’s Home Loan Services:

At NoBroker, we understand the significance of a seamless home loan experience. We offer a range of services to assist you throughout your home loan journey.

• Hassle-free Loan Comparison: Use our platform to compare different home loan options from various banks, including SBI, based on interest rates, tenure, and other parameters.
• Expert Guidance: Our team of experts can guide you through the home loan process, helping you understand the documentation requirements, eligibility criteria, and loan repayment options.

Online Application: Apply for an SBI home loan through NoBroker’s platform, saving time and effort with our streamlined online application process.

Advantages of Using SBI Home Loan Statement 

House loan borrowers get a document known as a House Loan statement, which is intended to help them keep track of the amount of principal they have paid back on their home loans. 

This document includes details not only on the overall amount paid but also on the outstanding amount as of the current date. Access to this information is beneficial when creating plans and preparing for one’s future financial situation. It is also helpful to grasp the financial implications that would arise from the prepayment of the loan. This is because prepayment of the loan would result in financial ramifications.

The Step-by-Step Guide to Downloading an SBI Statement Regarding Your Home Loan

Both online and offline execution are viable options for this activity. You may receive the SBI Home Loan Statement by following the step-by-step method that is provided below, which will take you through the whole process:
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1. You first need to go online to the official website for SBI Home Loans, which can be found by clicking here. To log in, choose the “Login” option from the menu.
2. You will need to log in to the Personal Banking portion of the website to see and download the Home Loan statement. This section is located on the website.
3. After obtaining the username and password, go to the next step by selecting the Login option and completing the requested information.
4. You may get a copy of the SBI home loan provisional certificate by downloading it online.

Obtaining the SBI Home Loan Interest Certificate may be done completely online, and the following is a step-by-step instruction that will lead you through the process:

1. It would be best if you began by going to the official website of the SBI as your first order of business.
2. To log in, choose the “Login” option from the menu.
3. Once you have successfully signed in with your credentials, go to the next step to see and acquire your SBI Home Loan Interest Certificate.
4. After successfully logging in using one of the ways described above, you can see and download your SBI Bank Interest Certificate.

After successfully entering your banking account through the internet, you will be presented with a menu choice titled “Provisional Interest Statement.” Select this option. You can save a copy of the Provisional Interest Certificate straight to your computer by downloading it using this method.

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The Step-by-Step Guide to Obtaining an Interest Certificate for Your SBI Home Loan Online 

If the borrower so wishes, they can acquire the statement and the interest certificate for the home loan interest certificate through traditional communication. To do this, you will be required to submit the following documents to the SBI branch that is geographically located nearest to you:

1. The correct template to use for the Home Loan Statement or the Interest Certificate, in addition to the Provisional Interest Statement
2. Fill out the form with all of the necessary information, which includes your Home Loan Account Number, the Applicant’s Date of Birth, your Email ID, and any other contact information that may be relevant.
3. It would be helpful if you could send in the form with a photocopy of the supporting documentation, such as a copy of your passport, Aadhaar card, and PAN card, among other pertinent documents for the home loan interest certificate for income tax.

It is strongly suggested that the individual applying for the SBI Home Loan or a co-applicant is the sole one who goes to the bank to collect this specific paperwork. However, if it is impossible for the applicant or co-applicant to attend the bank in person, they can send a representative in their place. 
Read: Bank Employee Home Loan Benefits and Interest Rates

This must be done in connection with submitting a Letter of Authority and valid identity documents on behalf of the applicant or co-applicant and the person sending the representative.

Access to SBI Home Loan Statement and the Interest Certificate

You can access the statements and certificates for loans in SBI bank anytime during the year. You can either collect it from any SBI Home Loans office during their business hours or download it online and follow the processes explained above to do so. 

You may also get a Provisional Interest Statement before the end of the current fiscal year, but, the detailed SBI interest certificate online for the previous fiscal year will only be available after the year has ended. A detailed home loan interest statement is required to prepare one’s income tax return and financial planning for the next calendar year.

Getting an SBI home loan could be tricky. Consult a home loan expert at NoBroker to make things easy. The expert will understand your requirement and guide you to the best home loan option as per your budgetary requirements.  Comment below this article and our executive will be in touch with you soon. 
Read: IIFL Home Loan Interest Rates – Updated in April 2024

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